Griffon (NYSE:GFF) Updated by StockNews.com to Strong-Buy

Griffon (NYSE:GFF – Get a Free Report) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Several other research analysts have also recently commented on GFF. Stephens reiterated an “overweight” rating and issued a $85.00 target price on shares of Griffon in a research note on Tuesday, September 10th. Robert W. Baird reduced their price objective on Griffon from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Griffon has a consensus rating of “Buy” and a consensus price target of $81.50, according to MarketBeat.

Check out the latest stock report on GFF

Griffon Trading Up 3.0%

Shares of GFF stock traded up $2.06 during mid-day trading on Monday, reaching $69.94. 682,249 shares of the company’s stock were exchanged, compared to its average volume of 441,178. The company has a quick ratio of 1.39, a current ratio of 2.50, and a debt-to-equity ratio of 6.71. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 18.45 and a beta of 1.29. The stock has a 50 day simple moving average of $66.40 and a two hundred day simple moving average of $67.33. Griffon has a fifty-two week low of $38.33 and a fifty-two week high of $77.99.

Griffon (NYSE:GFF – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $1.24 EPS for the quarter, missing the consensus estimate of $1.31 by ($0.07). Griffon had a net margin of 7.27% and a return on equity of 96.05%. The company had revenue of $647.80 million during the quarter, compared to analysts’ expectations of $688.94 million. In the same period last year, the company earned $1.29 per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. equities analysts expect that Griffon will post 4.87 EPS for the current fiscal year.

Indoor activity

In other news, COO Robert F. Mehmel sold 1,205 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $70.11, for a total transaction of $84,482.55. Following the completion of the transaction, the chief operating officer now directly owns 754,046 shares of the company’s stock, valued at $52,866,165.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, Director Kevin F. Sullivan sold 12,447 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $65.00, for a total value of $809,055.00. Following the completion of the transaction, the director now directly owns 50,390 shares of the company’s stock, valued at approximately $3,275,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, COO Robert F. Mehmel sold 1,205 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $70.11, for a total value of $84,482.55. Following the completion of the transaction, the chief operating officer now directly owns 754,046 shares of the company’s stock, valued at $52,866,165.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 209,251 shares of company stock worth $13,658,297. 16.10% of shares are currently owned by insiders.

Institutional investors are weighing on Griffon

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management LP raised its position in Griffon by 6.6% in the second quarter. Point72 Asset Management LP now owns 270,805 shares of the conglomerate’s stock worth $17,294,000 after buying an additional 16,740 shares during the period. Quarry LP lifted its position in shares of Griffon by 98.7% during the 2nd quarter. Quarry LP now owns 777 shares of the conglomerate’s stock valued at $50,000 after acquiring an additional 386 shares in the last quarter. Algert Global LLC raised its stake in Griffon by 94.3% in the 2nd quarter. Algert Global LLC now owns 128,870 shares of the conglomerate’s stock valued at $8,230,000 after acquiring an additional 62,559 shares during the period . Barington Capital Group LP raised its stake in Griffon by 50.0% in the 2nd quarter. Barington Capital Group LP now owns 30,000 shares of the conglomerate’s stock valued at $1,916,000 after buying an additional 10,000 shares in the that period. Finally, Caxton Associates LP boosted its stake in Griffon by 14.0% during the 2nd quarter. Caxton Associates LP now owns 36,687 shares of the conglomerate’s stock valued at $2,343,000 after purchasing an additional 4,498 shares during that period. 73.22% of the shares are currently owned by institutional investors and hedge funds.

Griffon Company Profile

(Get a free report)

Griffon Corporation, through its subsidiaries, supplies consumer and professional, as well as residential and construction products in the United States, Europe, Canada, Australia and internationally. The company operates through two segments: Home & Construction Products and Consumer & Professional Products. The Home & Construction Products segment manufactures and markets residential and commercial sectional garage doors, rolling steel service doors, fire doors, shutters, steel security grills and room dividers for use in construction and commercial repair and remodeling applications of the house.

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